Where to Invest Your Technology Budget
Technology may be one of the greatest growth accelerators for a recruiting business. In today’s increasingly digital world, there are literally hundreds of options available. In an incredibly challenging labor market with so many employers competing for talent, technology that delivers a game-changing candidate experience might be a smart choice.
To improve your business and prepare for growth, invest in foundational enterprise technology systems that increase efficiency and enable scalability. These could address critical operational functions in the front, middle or back office. To find your way at the beginning of your search, you must answer some basic questions before continuing.
Investing in an Exceptional Candidate Experience
Finding good people is the number one challenge for CEOs and for recruiting firms. Millions of jobs go unfilled month after month. At the same time, a rising number of the employed have made the decision to quit one job for another.
Investing in a good candidate experience is important when many workers are looking for jobs. It should be easy and convenient for job seekers to connect with potential employers. Using new technology and a chatbot could greatly improve a recruiting agency’s mobile process and have a big impact.
Attracting and retaining candidates requires more than a great candidate experience, however. It is the first step in the employment journey. If you are not prepared to follow through with what are quickly becoming non-negotiable expectations for today’s workforce, you may quickly get candidates in the door who will just as quickly exit if they are not satisfied with what they find once they are on your payroll.
It is important to understand that technology is an enabler. It cannot replace traditional contributors to a great candidate – and employee — experience. For example:
- Are your pay and benefits competitive?
- Does your company culture embrace and involve?
- Is your workforce diverse, equitable and inclusive?
- Do you provide the training and career development opportunities employees want?
There are many apps to improve the candidate experience. There are numerous apps available to enhance the candidate experience.
The crucial question is whether the technology you are considering can meet the current expectations. Additionally, it should be able to easily incorporate new features as expectations evolve. If not, you might want to consider building a customised solution that meets your exact needs today and tomorrow.
Setting the Stage to Scale for Growth & Operational Excellence
In the recruiting industry, it is important to find and hire talented people. It is also important to keep them engaged and satisfied. This is crucial for success. We know that employee engagement can be a key contributor to productivity and profitability. When employees believe in your mission and values, they are more likely to be engaged.
Job satisfaction is more basic. It relates to more elemental factors, such as pay and benefits, workplace amenities, safety, and the tools, equipment and systems needed to do the job. In the recruiting industry, the number one priority is pay. If employees don’t get paid, it may be game over.
That is why the systems that underlay basic business operations and connect front office to back are so crucial. Candidates don’t care how time records connect to payroll; they just want to know that however it happens, they get paid accurately and on time.
If they don’t, everything else in the business can come to a standstill as everyone turns their focus to getting out the payroll by whatever means possible. Although not as visible externally, all the other steps in the pay-bill process are equally critical to your ability to operate your business efficiently and profitably, to say nothing of your prospects to scale your business for growth.
Should Your Focus Be External or Internal?
If you don’t have the ability to attract the right candidates to fill client orders, it may not matter how efficient your back office is. If your operational systems cannot support current business operations, let alone expansion, you will be unable to take advantage of market opportunities.
How can you focus on candidate experience if basic processes and systems are duct-taped? Is there a way to move forward on both tracks simultaneously? There may be.
Start with Your ATS
There is no question that the ATS is the workhorse of the recruiting industry. Originally created for organising candidate records, it has become a valuable tool for managing talent and fostering connections with promising candidates. Today, it can do far more, providing end-to-end system capabilities. It can help you:
- Manage and accelerate the customer and candidate lifecycle
- Source, engage, and place the right candidates in the shortest possible time
- Bridge the gap between the front-office and back-office payroll and accounting systems, with centralised visibility, speed, and control
Where to Next?
Understanding the importance of a good ATS allows you to focus on researching whether to buy or build one. This research will help improve your talent pipeline and operational abilities. To choose the best option, seek advice, assess supplier expertise and outcomes, watch demos, and explore features of other solutions.
There is no shortage of options available to you. New solutions and apps seem to hit the market every week. So let the search begin.
Here’s a good place to start: “The future of ATS solutions isn’t buy…” a new eBook that offers insight into this mission-critical decision about the most important technology investment a recruiting firm can make.
If you have any questions, we’d love to provide answers that can help you in your exploration. Contact us at firstname.lastname@example.org.